Apple posted quarterly revenue of $45.6 billion and quarterly net profit of $10.2 billion, compared to revenue of $43.6 billion and net profit of $9.5 billion, in the same period last year.

Gross margin was 39.3% compared to 37.5% in Q2 2013. International sales accounted for 66% of the quarter’s revenue.

Apple reported that whilst its iPhones sales were up 17% to 43.7 million, iPads sales were lower than expected at 16.35 million. The company said the fall was due to channel inventory changes. Sales of Macs were up 5% to 4.1 million whilst iPods continued their predicted fall, down 51% to 2.7 million. Meanwhile iTunes and Apple’s software services continued their upward trajectory, with sales of $4.57 billion, up 11%, whilst accessories are up 3% to $1.4 billion.

The company also announced a 7 for 1 stock split, effective from June 2, which will make Apple’s shares affordable for more investors. The board of directors also increased its share repurchase authorization to $90 billion (from $60 billion) and declared a dividend of $3.29 per common share, an increase of about 8%, payable on May 15.